Digital technology adoption and usage varies significantly based on income, education, age, and race. Higher-income, more educated, younger, and white individuals are more likely to use the internet, own a smartphone, download apps, use social networking sites, and engage in mobile banking. For example, over 90% of those with household incomes over $75k use the internet, compared to just 45% of those under $30k. Similarly, 97% of college graduates use the internet versus 45% of those without a high school diploma. Younger generations are also more likely to adopt new technologies like smartphones, with 66% of millennials owning one compared to just 3% of those in the Greatest Generation.

1. Digital Differences and Money
Center for Financial Services Innovation/NYSE – Financial Literacy Week
April 13, 2012
Lee Rainie: Director, Pew Internet Project
Email: Lrainie@pewinternet.org
PewInternet.org

2. Tech landscape
• Income
• Educational attainment
• Age
• Race/ethnicity
----
• Internet / broadband at home
• Mobile
• Social networking

3. Internet users and HH income – 80%
100%
80%
60%
94% 98%
40%
85%
65%
20%
0%
<$30K $30K-$50K $50K-75K >$75K

4. Internet users and education – 80%
100%
80%
60%
97%
91%
40%
73%
20%
45%
0%
<H.S. H.S. diploma Some college College degree +

5. Internet users and age – 80%
100%
80%
60%
93% 89%
40% 80% 75%
58%
20%
31%
0%
Millennials Gen X Younger Older Silent G.I.
(18-34) (35-46) Boomers Boomers Generation Generation
(47-56) (57-65) (66-74) (75+)

6. Internet users and race/ethnicity – 80%
100%
80%
60%
40% 83%
71% 71%
20%
0%
White Black Hispanic

7. Broadband at home and HH income – 64%
100%
80%
60%
91%
40% 82%
64%
20%
45%
0%
<$30K $30K-$50K $50K-75K >$75K

8. Broadband at home and education – 64%
100%
80%
60%
90%
40%
76%
52%
20%
25%
0%
<H.S. H.S. diploma Some college College degree +

9. Broadband at home and age – 64%
100%
80%
60%
40%
74% 75%
65% 60%
20% 45%
21%
0%
Millennials Gen X Younger Older Silent G.I.
(18-34) (35-46) Boomers Boomers Generation Generation
(47-56) (57-65) (66-74) (75+)

10. Bband at home, race/ethnicity – 64%
100%
80%
60%
40%
69%
57%
20% 44%
0%
White Black Hispanic

11. Cell phones and HH income – 88%
100%
95%
90%
85%
80%
97%
92%
75% 90%
70%
82%
65%
60%
<$30K $30K-$50K $50K-75K >$75K

12. Cell phones and education – 88%
100%
95%
90%
85%
80%
94%
75% 91%
85%
70%
76%
65%
60%
<H.S. H.S. diploma Some college College degree +

13. Cell phones and age – 88%
100%
80%
60%
96% 94%
87% 84%
40%
77%
52%
20%
0%
Millennials Gen X Younger Older Silent G.I.
(18-34) (35-46) Boomers Boomers Generation Generation
(47-56) (57-65) (66-74) (75+)

14. Cell phones and race/ethnicity – 88%
100%
80%
60%
87% 88% 88%
40%
20%
0%
White Black Hispanic

15. Smartphone tipping point -- 46%

16. Smartphones and HH income – 46%
80%
70%
60%
50%
40%
68%
30%
46% 49%
20%
34%
10%
0%
<$30K $30K-$50K $50K-75K >$75K

17. Smartphones and education – 46%
70%
60%
50%
40%
30% 60%
52%
20% 39%
25%
10%
0%
<H.S. H.S. diploma Some college College degree +

18. Smartphones and age – 46%
70%
60%
50%
40%
66%
30%
53%
20%
35%
10% 22% 20%
3%
0%
Millennials Gen X Younger Older Boomers Silent G.I.
(18-34) (35-46) Boomers (57-65) Generation Generation
(47-56) (66-74) (75+)

19. Smartphones and race/ethnicity – 46%
100%
80%
60%
40%
45% 49% 49%
20%
0%
Whites Blacks Hispanics

20. The demographics of smartphone users who go online mostly using their cell phone (May 2011)
All smartphone owners (age 18+ n=688) 25%
Men (n=349) 24
Women (n=339) 26
Race/Ethnicity
White, non-Hispanic (n=417) 17
Black/Hispanic (n=206) 38
Age
18-29 (n=177) 42
30-49 (n=256) 21
50+ (n=240) 10
Household Income
Less than $30,000/yr (n=131) 40
$30,000-$49,999 (n=118) 29
$50,000+ (n=334) 17
Education level
High school grad (n=169) 33
Some college (n=171) 27
College+ (n=308) 13

21. Download apps– 46%
60%
50%
40%
30%
56%
20% 40%
25%
10%
11% 1%
4%
0%
Millennials GenX Younger Older Boomers Silent G.I. Generation
(18-34) (35-46) Boomers (57-65) Generation (66- (75+)
(47-56) 74)

22. White, non- Black, non-
Hispanic
Hispanic Hispanic
(n=196)
(n=1343) (n=232)
Send or receive text messages 70 76 83*
Take a picture 71 70 79*
Access the internet 39 56* 51*
Send a photo or video to someone 52 58 61*
Send or receive email 34 46* 43*
Download an app 28 36* 36*
Play a game 31 43* 40*
Play music 27 45* 47*
Record a video 30 41* 42*
Access a social networking site 25 39* 35*
Post a photo or video online 18 30* 28*
Check bank balance or do online banking 15 27* 25*
Mean (out of 14) 4.7 6.1 6.2

23. Federal Reserve http://www.federalreserve.gov/econresdata/mobile-device-report-
201203.pdf “Consumers and Mobile Financial Services”

24. Federal Reserve http://www.federalreserve.gov/econresdata/mobile-device-report-
201203.pdf “Consumers and Mobile Financial Services”

25. Federal Reserve http://www.federalreserve.gov/econresdata/mobile-device-report-
201203.pdf “Consumers and Mobile Financial Services”

26. Federal Reserve http://www.federalreserve.gov/econresdata/mobile-device-report-
201203.pdf “Consumers and Mobile Financial Services”

27. Just-in-time commerce
60%
40% 38%
25% 24%
20%
34%
22% 22%
0%
Call a friend for advice Look up prices online of a Look up product reviews
about a purchase product you found in a online of a product you
store found in a store
% of all adults % of cell owners

28. SNS and HH income – 52%
100%
80%
60%
40%
68%
58% 57%
20%
46%
0%
<$30K $30K-$50K $50K-75K >$75K

29. SNS and education – 52%
100%
80%
60%
40%
65% 64%
20%
45%
28%
0%
<H.S. H.S. diploma Some college College degree +

30. SNS and race/ethnicity – 52%
100%
80%
60%
40%
53% 49% 52%
20%
0%
White Black Hispanic

31. SNS and age – 52%
100%
80%
60%
40% 78%
63%
20% 42% 38%
20%
0%
6%
Millennials Gen X Younger Older Silent G.I.
(18-34) (35-46) Boomers Boomers Generation Generation
(47-56) (57-65) (66-74) (75+)

32. Mean side of SNS network
350.0
300.0
250.0
200.0
150.0 318.5
100.0 197.6
155.7
50.0 85.1 78.4
42.0
0.0
Millennials Gen X Younger Older Silent G.I.
(18-34) (35-46) Boomers Boomers Generation Generation
(47-56) (57-65) (66-74) (75+)

33. Thank you!